Bitcoin has found its comfort zone above $102K.
The Fear and Greed Index is sitting pretty in the greed zone, and for once, the market isn’t having a panic attack every few hours.
It’s almost like crypto grew up and decided to act normal for a while. Almost.
But don’t get too comfortable – today’s headlines are serving up everything from JPMorgan’s Bitcoin flip-flop to some serious allegations against Cardano’s founder.
But before we continue – let’s get you caught up on CMC Launch.
So what’s going on? Let’s make sense of it all! Here’s a quick rundown of the top headlines:
- ETH to outperform SOL, says Hayes – BitMEX co-founder favors “very hated” Ethereum for the next bull run. Why does he think Ethereum can outperform Solana?
- JPMorgan opens Bitcoin access to clients – World’s largest bank reverses course but won’t custody the crypto. He also thinks “blockchain doesn’t matter much.”
- MicroStrategy faces class action over Bitcoin strategy. What exactly is the lawsuit about?
- SEC delays Solana ETF as companies buy direct – Grayscale’s application pushed to October while DeFi Development Corporation drops $100M on direct SOL purchases. When is the next deadline for the decision?
- Charles Hoskinson faces accusations of misappropriating $619M worth of ADA during 2021 hard fork. What’s the founder’s reaction to the allegation?
ETH To Outperform SOL, Says Hayes
Hayes favors ETH over SOL despite recent underperformance, calling Ethereum “very hated.”
BitMEX co-founder Arthur Hayes expects Bitcoin needs to break $110K with rising volumes to the $150K-$200K range to trigger alt season.
Why does he think Ethereum can outperform Solana? Read the full story!
JPMorgan Opens Bitcoin Access to Clients
JPMorgan CEO Jamie Dimon announced the bank will allow clients to purchase Bitcoin through their platform.
The world’s largest bank with $4 trillion in assets under management reversed its previous stance despite Dimon maintaining he’s “not a fan” of Bitcoin.
JPMorgan will facilitate Bitcoin purchases but won’t custody the cryptocurrency.
He also thinks “blockchain doesn’t matter much.” Read the full story!
MicroStrategy Faces Class Action Over Bitcoin Strategy
A class action lawsuit was filed against MicroStrategy and executives including Michael Saylor over alleged misleading statements about their Bitcoin investment strategy.
The suit comes after MicroStrategy purchased over 7K more Bitcoin, pushing its holding to 576K in total.
What exactly is the lawsuit about? Read the full story!
SEC Delays Solana ETF
The SEC extended the deadline for Grayscale’s spot Solana ETF application, keeping the crypto community waiting for regulatory approval.
SOL price jumped 5% on the delay announcement while Polymarket odds briefly dropped from 89% to 80% before recovering to 82%.
DeFi Development Corporation purchased over $100 million worth of SOL directly rather than waiting for ETF approval,
When is the next deadline for the decision? Read the full story!
